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Norway has been the second largest market for Teslas, only trailing behind the U.S.. The Tesla’s Model S recently became the best-selling car in the country ever.

What’s behind this Tesla boom inside of Norway?

Freakonomics Radio. recently put together “How Can Tiny Norway Afford to Buy So Many Teslas?”

Teslas, along with other electric vehicles, are massively subsidized by the Norwegian government.

>Martin Skancke, a former high-ranking government official: The difference between the price of a Tesla and the price of a similar gasoline-driven car is huge in Norway compared to other countries. So in relative terms, the Tesla is a lot cheaper than other cars.

Norway is among the greenest countries on Earth. It gets virtually all of its electricity from hydropower and it has more electric vehicles per capita than any country in the world.

Ironically Norway is also the biggest oil producer in Western Europe and the world’s third-largest exporter of natural gas. All that oil money is what allows Norway to subsidize its green lifestyle; it has also helped create what is now the largest sovereign wealth fund in the world, soon projected to top trillion.